Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

July 04, 2008 08:00 ET

Radisson Mining Provides its Presentation to the Recent Shareholders Annual Meeting

ROUYN-NORANDA, QUEBEC--(Marketwire - July 4, 2008) - The following is a summary of a presentation on Radisson Mining (TSX VENTURE:RDS) made by Dale M. Hendrick,P.Eng., Chairman of the Board and a Qualified Person as per National Requirement 43-101 Policy, to the Annual Special and General Meeting of Shareholders on June 26, 2008.

Quote: Fellow Shareholders, the past year ending in 2007 and the first half of this year has been an active one. And in spite of carrying out a busy exploration program, significant for a listed junior on the TSX Venture exchange, I am disappointed that our stock traded in the range of 12.5 cents to 45 cents per share. For a 50 million share company the range of cap value is between $6 million $22 million and to me, and I know also to you as shareholders, this is unacceptable.

Our principal asset base consists of the 36East new discovery zone within the OBrien/Kewagama mine property. This property has a 43 101 reported indicated resource of 270 thousand tons with an average uncut gold grade of 0.56 ounces per ton ("opt") and an inferred resources of 182,000 tons with an average uncut gold grade of 0.37 opt. The historical recovered mine grade of the original O'Brien Mine was 0.45 opt produced from 1.3 million tons processed from 1933 to 1956. The close comparison in grades in my opinion is more than coincidence.

At the moment, we are awaiting a decision from Aurizon Mines Ltd, a successful operating gold mining company with $40 million in cash operating a producing mine in the Casa Berardi area of Abitibi, Quebec. If our Letter of Intent with Aurizon proceeds to a firm commitment, Aurizon can carry out exploration and a bankable feasibility study leading to production that will earn Aurizon a 50 % interest in the O'Brien Kewagama property.

To fully earn a 50% interest, we estimate that Aurizon will expend exploration funds on the O'Brien property of approximately $30 million.

Because of the Aurizon entrance into the Radisson corporate structure, a flow through financed surface drill program in progress during the year was discontinued. The shallow drill program on the 36 East Zone intersected typical visible gold hits in the main zone but in particular the last 3 holes going East onto Kewagama intersected new gold intersections not included in the 43 101 Mineral Resource.

I am pleased to mention our Massicotte Joint Venture with D'Arianne (TSX CROISSANCE:DAR) up in the Detour Lake and Casa Berardi regions of Ontario and Quebec. An airborne geophysical survey by D'Arianne indicates extension of the Detour Gold mineralized structure into Quebec and our Massicotte property. Detour Gold has a market cap of $800 million and trades around $21 per share. The open pit Detour Gold property, 15 km west of Massicotte, has an open pit mineral resource of 150 million tonnes containing 7.8 million oz. of gold. Drilling of our Massicotte Joint Venture targets is anticipated for this coming August.

As a result of high commodity prices in the past year, Radisson acquired molybdenum properties in the Dryden Ontario and La Reine Quebec areas. Work on these projects, including drilling at Dryden, did not yield commercial encouragement so these projects have been dropped.

The success of Noront with a base metal discovery in the James Bay area Ontario directed our exploration attention to base metal targets in Quebec and in particular the Chibougamau area. To this end, we acquired through prospecting the Potrack copper/zinc property that warrants ground geophysics and we hope drilling this Fall.

As mentioned, last year was a bad year for Radisson's exploration and acquisitions and stock price. The small but high grade RM Nickel property near Rouyn/Noranda did not provide decent metallurgical recoveries and had to be abandoned. We had hoped that this nickel/copper project would be amenable to milling at our sulphide flotation O'Brien Mill but this was not to be.

However, our Mill when refurbished will be a sulphide flotation circuit of 500 tons per day capacity. Globex Mining because of its neighbouring Ironwood gold sulphide property and Victory Nickel with its rich nickel/copper deposit north of Mattagami Lake have both shown serious interest in using our mill.

For 2008, I, as your Chairman and a Director of Radisson, and also a shareholder, will recommend to your board a strategy whereby for new growth a number of new initiatives will be considered. These will include:

1) A re-look at data within our in-house Duquesne property. It is interesting to note that this property straddles the highly prospective Porcupine Destor Fault. In 1990 the adjoining property was a joint venture operated by Radisson which produced 100,000 tons of ore that was milled, ironically, at the Aurizon Sleeping Giant Mill and graded 0.29 opt gold. Six drills are now operating to the West of our Duquesne Destor property on behalf of Clifton Star Resources. Clifton Star has recently published very encouraging drill results on this exploration program. It is recommended that we at Radisson review historical data and identify new drill targets on Radisson's Duquesne claim blocks comprising 22 claims/330ha and 8 claims/195ha.

2) Coal is or has become a very valuable commodity, so valuable that a high purchase price on a global basis for clean coal, both metallurgical coal and steam coal, has pushed uranium and nuclear power to the "back of the bus". It will be recommended to your board that we engage expertise in coal production, marketing and acquisition to assess economic potential of projects on behalf of Radisson.

3) Investigate by informal discussions possibilities of joint venture opportunity with previous past producers that may be economic at these gold prices. Such a project might vie with the O'Brien/Kewagama and, perhaps, the Duquesne or the Massicotte property as the single most important asset in the Radisson portfolio.

Finally, Ken Murton and I are serious and major investors in Radisson Mining. We intend to do everything within our power to reward our shareholders.

Meanwhile, on behalf of Radisson Mining, our Board of Directors and Officers, thank you for your attendance and support.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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